IN THENEWS

REVITILIZATION

The glass façade will showcase the spectacular views from residences and emphasize the contemporary feel of the development. An abstract sculptural frieze, called Sogno D’Argento by family member and world-renowned artist, John Asaro, will pay homage to Little Italy’s past as a working-class Italian and Portuguese neighborhood that once was the center of the west coast tuna fishing industry. It will be a prominent part of the building design and complement the existing neighborhood art.

MULTIFAMILY BIZ

“We are pleased that the forward thinking of the Mayor’s Office has created an environment where projects like 1460 India Street can flourish. With the help of our partners, we will reimagine what privately-financed workforce housing can provide to the community – housing that meets the needs of today’s working families while keeping rental costs low.”

- RICHARD HANNUM, FORGE FOUNDER

CONNECT CALIFORNIA

San Francisco-based Forge Development Partners (Forge) has joined with Realty Mogul in a joint venture which has acquired a building at 1460 India St. in San Diego. Plans are to redevelop the property into a high-rise providing some 265 rental units of workforce housing.

BLAU JOURNAL

With this acquisition, Forge hopes to perpetuate the workforce history and legacy of the area that is Little Italy. The property was purchased from the Asaro family who have called Little Italy home since the 1940s. Forge plans to redevelop the property into a world class high-rise building providing some 265 rental units of workforce housing for the City of San Diego. Preserving and supporting the working class tradition of the area was a guiding objective in the development of this project.

REVITILIZATION

With this acquisition, Forge hopes to perpetuate the workforce history and legacy of the area that is Little Italy. The property was purchased from the Asaro family who have called Little Italy home since the 1940s. Forge plans to redevelop the property into a world class high-rise building providing some 265 rental units of workforce housing for the City of San Diego. Preserving and supporting the working class tradition of the area was a guiding objective in the development of this project.

BISNOW

AUGUST 7, 2019

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$100M TENDERLOIN MICRO-UNIT PROJECT BREAKS GROUND THIS MONTH

Affordable housing developer Tenderloin Neighborhood Development Corp. owns a property adjacent to 145 Leavenworth St. and had been advising Forge on their project for the last few years, TNDC Planning and Policy Manager Alexandra Goldman said.

"It's sort of a new model," Goldman said. "Having private resources funding a project with an income cap, but that's a good thing."

The Registry

CONNECT CALIFORNIA

AUGUST 7, 2019

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FORGE DEVELOPMENT,

BRIDGE INVESTMENT LAUNCH

240-UNIT SAN FRANCISCO MICRO MF

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TL 361, located at 361 Turk St. and 145 Leavenworth St. in the Tenderloin neighborhood, will transform two surface-level parking lots into a vibrant, mixed-use residential community, featuring two, eight-story standalone buildings housing a total of 240 micro-units above neighborhood-serving retail as well as a dedicated on-site social and community center.

San Francisco Business Times

AUGUST 7, 2019

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DEVELOPERS KICK OFF 240 MICROUNITS IN TENDERLOIN

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“This first project will demonstrate the applicability of our model to provide high-tech, high-touch and highly desirable housing solutions in downtown settings,” said Richard Hannum, founder of Forge Development Partners, one of the developers on the project, in a statement.

BISNOW

MAY 16, 2017

WHY IS IT SO DIFFICULT TO BUILD AFFORDABLE HOUSING IN THE BAY AREA?

With 100,000 jobs created in the last six years within San Francisco, a need for housing at multiple income levels has become pressing. More than 7,000 affordable housing units began construction during this time, but the need for more housing continues.

San Francisco Business Times

There has been virtually no new housing built for "middle-income" San Franciscans, because market-rate projects are too expensive due to construction and land costs. Subsidized affordable units are mostly restricted to renters making less than the average area median income. Forge Land Co. is trying to meet that need with a mix of new technology and small units.

CURBED, San Francisco

Nov 12, 2014

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NEW HOUSING PLANNED FOR LONG-VACANT TENDERLOIN LOTS

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"We're not displacing any of the existing housing or community," Forge Land Company CEO Richard Hannum says, noting that the two lots never got built on after the 1906 earthquake. "We're simply augmenting the community. The rent rates will by definition be consistent with the community, so this is all net add housing stock."